I’m not even sure that banks would hate this. Do banks even like low income customers that just deposit paychecks and pay them right out to cover expenses? I would assume banks make most of their money off people with money.
They make a shitload off those people through overdraft fees.
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Yep. And if you have enough money in the bank, they’ll waive your service charges.
Can personally confirm as I’ve been both the poor person they wouldn’t waive fees for and the richer person they’d do almost anything to keep happy… and every single stop between those two points at one time or another. It was a radicalizing experience honestly.
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Ugh, all the vomit-inducing THANKING OUR VETERANS emails that are rolling into my inbox this morning, each one trying to outdo the other. I don’t recall any THANKING OUR LABOR MOVEMENT emails on Labor Day, strange how that works.
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Also, there is an entire industry of check cashing places that exist in large part because more mainstream banks either don’t want to open branches in poor neighborhoods or won’t deal with people who carry small monthly balances and/or may have a history of bad credit, bounced checks, etc. I’d bet those businesses lobby hard against postal banking.
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logged onto facebook today and it is unusable.
Everyone knows that unions are lazy good for nothing moochers and soldiers are brave warriors that made sacrifices for the rest of us. That’s what makes America The Greatest Country In The World. Go back to Russia, Commie!
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I think I found your problem.
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How else is he supposed to Do His Own Research!?!?!!?
Banks make a fortune by preying on low income people who overdraft their accounts. The banks then charge outrageous usury fees.
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Facebook is unusuable without Social Fixer.
I haven’t seen a single Veterans Day post due to the filters and all the unfollowing I’ve done.
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Also, banks charge a fee for having very little in your account. That fee can then overdraft your account and so on.
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Good reminder. I used Social Fixer in the past, I think maybe it was a facebook app(?) but then it quit working and I didn’t follow up. Downloaded the extension now.
This post made me wonder if “conservapedia” still exists. Answer: Yes!
22- Liberals deny that a shutdown of the federal government is a good thing.
26- Liberals deny that human intelligence inevitably and demonstrably declines from generation to generation, and that if there were another 100 generations into the future, the people of that time would not be able to understand simple concepts.
44- Liberals deny that Hitler and the Nazi party were in fact Liberals
I feel like I should have to pay for this kind of entertainment.
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Amazing
Do these guys think the cavemen were super-geniuses?
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This makes sense. I was curious about the orders of magnitude involved. I pulled the financial statements for Canada’s largest bank as an example. Last year their revenue was $CAD 47 billion. About $21B of that is interest income (mostly on their loans). The other $26B is “non interest income” which in all fairness does seem to include big line items for actual services rendered (insurance premiums and investment management fees). There’s about $1.8B in there for “Service Charges” which is probably where all these overdraft fees show up. So a small minority of revenue but yeah they probably aren’t looking to give it away.
The only bug is that little date boxes pop up for a few seconds in the beginning but it’s hardly a dealbreaker.
What happens to the poor in the US when they can’t pay their bank fees?